Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At QTS Realty Trust (QTS), a filing with the SEC revealed that on Tuesday, Chief Executive Officer Chad L. Williams bought 62,757 shares of QTS, at a cost of $34.86 each, for a total investment of $2.19M. So far Williams is in the green, up about 4.0% on their buy based on today's trading high of $36.25. QTS Realty Trust is trading off about 0.6% on the day Thursday. This purchase marks the first one filed by Williams in the past twelve months.
And at Global Eagle Entertainment (ENT), there was insider buying on Tuesday, by Director Eric Louis Zinterhofer who bought 1,078,594 shares for a cost of $1.81 each, for a trade totaling $1.95M. Before this latest buy, Zinterhofer made one other purchase in the past year, buying $683,003 shares at a cost of $1.20 each. Global Eagle Entertainment is trading down about 1.9% on the day Thursday. Zinterhofer was up about 19.0% on the buy at the high point of today's trading session, with ENT trading as high as $2.15 at last check today.
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